Russian precious metals producer Polymetal International increased gold production by 25% YoY, to 1.005 million ounces, while silver output fell by 16%, to 16.4 million ounces in January-September.
“Continued strong performance at Kyzyl is driving our production dynamics. We now expect to exceed our full-year production guidance (of 1.55 million ounces by up to 50,000 ounces)”, said Vitaly Nesis, Group CEO of Polymetal.
Total production in gold equivalent increased by 16%, to 1.232 million ounces, while revenue by 28%, to $1.602 billion. Gold sales rose by 30%, to 992,000 ounces. Silver sales by fell by 6%, to 16.4 million ounces. (Prime/Ukrainian metal)